Trinamool Congress MP Saket Gokhale Alleges ECI Favouring BJP In Stock Market Gains. But Why?

Saket Gokhale took to X to accuse Home Minister Amit Shah and his associates of profiting from the stock market rally based on exit polls provided by a company they hired

Trinamool Congress MP Saket Gokhale (extreme left).

Source : Getty

Trinamool Congress MP Saket Gokhale has raised concerns over the two-day gap between the last phase of Lok Sabha elections and the counting of votes, alleging that the Election Commission of India (ECI) is aiding the BJP in capitalising on a stock market surge. On Monday, the Sensex reached an all-time high in early trading. Gokhale took to X to accuse Home Minister Amit Shah and his associates of profiting from the market rally based on exit polls provided by a company they hired.

"Amit Shah & his team of traders will make a killing of crores in the markets today based on the exit polls given by the company they've hired," Gokhale stated, questioning why the ECI did not commence vote counting on Monday. "But, instead, counting has been kept for Tuesday. Why's that?"

How the mysterious gap between voting & counting helps BJP make money

The last phase of voting got done on Saturday 1st Jun.

Taking a break of 1 day on Sunday for all preparations, the ECI could've started counting today i.e. Monday 3rd Jun.

But, instead, counting has been… pic.twitter.com/aX78I7nvGD

— Saket Gokhale MP (@SaketGokhale) June 3, 2024

Exit polls have forecasted a third consecutive term for Prime Minister Narendra Modi, with the BJP-led National Democratic Alliance (NDA) expected to secure around 350 seats. In West Bengal, the BJP is predicted to give the ruling TMC a tough competition, with some polls suggesting a BJP advantage in Mamata Banerjee's stronghold.

Gokhale's allegations included claims that the ECI’s delay in vote counting was a deliberate move to benefit the BJP in the stock markets. “If today's market activity were to be closely examined & investigated by SEBI & ED, skeletons will come tumbling out of the closet. This is why counting is on Tuesday & not Monday. Modi-appointed ECI helping the BJP make crores before the actual results,” he added.

On Monday, the stock market saw a remarkable surge, attributed to favourable exit polls and better-than-expected GDP figures. The Sensex skyrocketed by 1859.88 points, opening at a record 75,821.19. The Nifty also jumped 603.85 points, starting the day at 23,134.55.

Remarkably, all 50 companies in the Nifty index saw gains, marking an exceptionally robust market performance. Leading the rally were Adani Ports, Adani Enterprises, Power Grid, Shriram Finance, and NTPC, which posted significant advances.

At 2.10 pm, the BSE Sensex gained 2417 points to 76,379. On the other hand, the NSE Nify50 was trading at 23,251, up 720 points.